Page 16 - AI for Good - Impact Report

AI for Good

North America

• United States: The United States is the global leader in AI investment, with a total of
US$328.5 billion spent over the past five years. Significant investments come from
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technology enterprises, which focus on integrating AI into various products. The United
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States benefits from substantial private sector investments and venture capital, with a
peak of US$114 billion in venture capital funding in 2021. Additionally, there are various
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government grants and incentives available to drive innovation in AI R&D. 39

Asia

• China: China ranks second globally in AI investments, with US$132.7 billion spent from
2019 to 2023. The country is focusing heavily on AI research, patents, and talent retention.
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By 2027, China plans to invest around US$40 billion in AI. 41

• India: India is a significant player in AI, with US$16.1 billion invested over the past five
years. However, India faces challenges in scaling up its investments compared to the top
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global players due to administrative hurdles, talent shortage, and regulatory and policy
inconsistencies, among others. 43

• Middle East: The UAE and Saudi Arabia lead AI investments in the Middle East. The
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UAE has formed partnerships with global tech enterprises and is heavily investing in AI to
diversify its economy away from oil and gas. Saudi Arabia plans to create a US$40 billion
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AI fund, aiming to become a global leader in AI. The fund aims to finance start-ups in the
field of AI technology, including chip manufacturers and the expensive, extensive data
centers that are increasingly required to operate the next generation of computing. The
funding of its own AI companies is also being considered. 46,47

Europe

• United Kingdom: The United Kingdom is the third-largest AI investor globally with
US$25.5 billion spent from 2019 to 2023. Investment is concentrated in the prestigious
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universities, which poses challenges for regional equity. 49

• Germany, France, Sweden: Germany and France are also significant investors, with
US$14.3 billion and US$10.2 billion spent on AI, respectively, over the past five years.
Sweden saw the highest growth rate in AI investment, surging by 2310% over five years. 50

Africa

• According to a report, over 2,400 companies in Africa specialize in AI, with 41% being
startups. Over US$2 billion has been invested in promoting AI activities across the
continent. However, 63% of African AI startups are in the early and intermediate stages
of growth (classified as beginners and experimenters), indicating that these investments
may take time to produce tangible results. FAIR Forward, a public initiative in Germany,
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is dedicated to the open and sustainable development and application of artificial
intelligence for partnering countries in Africa and Asia . The program is currently
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collaborating with Ghana, Rwanda, South Africa, and Uganda. One of its primary goals is
to enhance access to training data and AI technologies to drive local innovation in those
countries. 53

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